Corruption and insider trading at the highest levels of the Government and Federal Reserve? Color me SHOCKED
Warren cited a Bloomberg News report on Friday that Fed Vice Chair Richard Clarida’s 2020 financial disclosures show he traded between $1 million and $5 million out of a bond fund into stock funds one day before Chair Jerome Powell issued a statement flagging possible policy action as the pandemic worsened. Two regional Fed chiefs recently announced their departures following revelations about their trading activity last year.
When I think about insider trading I usually think about what Martha Stewart got busted for or what happened in "Trading Places" with Eddie Murphy and Dan Akroyd. Getting tips on a company or two ahead of time and making a bet in the stock market because you know how the market will react ahead of time. It's cheating. Well this is like that on steroids because these guys aren't reacting based on a stock or two. No, they're reacting to policies that they themselves set for the entire fucking world economy. This is the third guy to get busted for being corrupt in like a week's time and you can bet that they're just the ones dumb enough to get caught. And yeah, sure, this happens at the Federal Reserve, but it also has been happening in the halls of congress for some time.
Looking good, Nancy!
Feeling good, Fed Chair!
The speaker of the house is up 69%. Hell of a nice trader.
This isn't political. I don't see myself as political. Republican Roger Marshall of Kansas along with 37 other members of congress got popped for the same thing. They haven't figured out how to walk between the raindrops like Pelosi, I mean Pelosi's husband.
All of this is really confusing, in my opinion. I tried my best to research the Federal reserve and break it down as best I can in a digestible podcast with Eddie. We talked about what the Fed is, it's role in America today, and how it got started in the first place.